Atlys raises $20M co-led by Peak XV Partners and Elevation Capital
The visa processing platform’s primary focus will remain on addressing the growing demands of travellers, especially in India, where international tourism is experiencing growth.
Visa processing platform has secured $20 million in its Series B funding round, co-led by Peak XV (formerly Sequoia Capital India) and . The round also saw participation from existing investors, alongside new investors such as DST Global and Headline.
The newly-raised funds will strengthen the company’s expansion strategy, enhance its product and engineering capabilities, enter new markets, and scale its global operations.
The Delhi- and San Francisco-based firm’s primary focus will remain on addressing the growing demands of travellers, especially in India, where international tourism is experiencing growth.
"Atlys has seen extraordinary 20X growth over the last 12 months. This investment will enable us to continue scaling globally and ensure that travellers can obtain their visas on time, every time. As India’s outbound tourism surges, the need for a seamless, on-time visa process is more critical than ever. We are one step closer to a world where borders no longer restrict exploration," said Mohak Nahta, Founder and CEO of Atlys.
Atlys has expanded its presence in international markets, including the US, the UAE, and the UK. Additionally, it has enhanced its leadership team by hiring top talent in product development, engineering, and marketing.
“Travel continues to see strong tailwinds globally and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally, and we are excited to deepen the partnership with Mohak and the Atlys team on this journey,” said Shraeyansh Thakur, Principal at Peak XV.
The company leverages advanced automation to streamline visa applications for more than 150 destinations, reducing processing times to as little as 55 seconds and lowering rejection rates.
In 2023, global outbound international tourists reached 1.3 billion, driven by the growth of international tourism, expanding expatriate communities, and greater adoption of digital travel solutions. As a result, the market is projected to grow at a CAGR of 10.5% over the next decade, says a report by the United Nations World Tourism Organization (UNWTO).
Around 30 million travellers went abroad from India, representing a 20% year-on-year increase. Moreover, 43% of the country’s outbound travel was from Tier II and Tier III cities, highlighting a shift from demand driven by metro cities.
“Atlys is one of the most innovative products to emerge in the travel space in a long time—a space where many have focused on transaction revenue without addressing the real pain points of global travellers. We believe in their long-term vision and the value they are creating, for global travellers in today’s fast-paced world,” said Mayank Khanduja, Partner at Elevation Capital.
The travel tech startup secured its Series A funding in 2023, backed by Peak XV Partners and Elevation Capital. Prior to this, it raised a seed round led by (a16z) in 2021, and a pre-seed round spearheaded by South Park Commons.
Founded in 2021 by Mohak Nahta, Atlys simplifies the visa application process for international travellers. Through its user-friendly platform, it streamlines the time-consuming process of obtaining visas, allowing users to quickly navigate visa requirements, submit applications, and track progress.
Edited by Megha Reddy